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Bharti Airtel's African tower sales nearing $1.3B

Jul. 06, 2015 7:01 PM ETBHARTI AIRTEL LTD ADR (BHRQY) StockAMT, BHRQYBy: Jason Aycock, SA News Editor2 Comments
  • Bharti Airtel (OTCPK:BHRQY) has sold its towers in five African countries for almost $1.3B, which it says it will use to reduce debt.
  • The move is an early phase in what will be tower divestment in 13 African countries. The company closed on agreements with Helios Towers Africa for Chad and Tanzania, and with American Tower (NYSE:AMT) on 4,700 sites in Nigeria.
  • Bharti Airtel had 18,819 sites across African operations at last report, with 76.26M subscribers that generated Q1 revenues of $1B.

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